BIO International 2025: Oppenheimer's Head of Healthcare Investment Banking, Michael Margolis, discusses biotech sentiment, M&A, and what it is like to raise money today

He describes how sentiment and the M&A environment have been improving, as well as some areas of the financing market. However, he cautions that it is very difficult to get early-stage development funded and that companies need to be creative to get phase 1 studies done.